Maximizing return on investment (ROI) is crucial when running ad campaigns. But are your LinkedIn ads performing as well as they could be? Let’s explore some advanced techniques to optimize your campaigns and achieve better results.
Monitoring and adjusting bids
You can’t just set and forget an ad campaign. Continuous monitoring is essential to ensure optimal performance. Here are some things you can do right now…
- Check spend: Make sure your daily budget is fully spending. If not, you may need to increase your bid or expand your audience. On the flip side, if you’re spending your daily budget by midday, you’re bidding too high. Lower that bid and monitor.
- Analyze CPC: If your campaign is spending and the CPC is at or above your bid, continue running the campaign as is. If the CPC is lower than your bid, you know you have room to bid lower. Again, monitor this. If you see a drop off of impressions and daily spend isn’t reached, you know you need to increase slightly.
Check in every couple of days and check these metrics.
Use dayparting
Scheduling ads to appear at specific times when your target audience is most active can massively improve performance. Though LinkedIn’s Campaign Manager doesn’t offer built-in ad scheduling, tools like Linklo.io can help you automate this process and make it super simple. We are huge fans of dayparting and we know it can lead to higher CTRs and better overall engagement during peak times. The results speak for themselves!
Strategic bid adjustments
Adjusting your bids based on various factors can help control costs while maximizing ad visibility and engagement. Consider adjusting bids based on:
- Audience demographics
- Device preferences
- Geographic location
You’ll want to check in with your demographic data often. If you see a specific job title or function driving higher than average CPLs, perhaps run a test group and further segment. By making these sort of adjustments, you can ensure your ads reach the most relevant segments of your audience for the best cost.
Measure and analyze metrics
It’s a no brainer but regularly measuring and analyzing key performance metrics is key for refining your strategy. But it’s often overlooked or simply considered when the QBR is due! To start off, focus on:
- Click-Through Rates (CTR)
- Conversion Rates (CVR)
- Cost Per Lead (CPL)
- Return on Ad Spend (ROAS)
These will give you a good idea of what’s working and what’s not. By monitoring these metrics, you can identify areas for improvement and act fast. If a lead gen campaign has failed to bring in any leads and your spend has exceeded $1k, it’s probably time to rethink the audience and messaging. If you see CTRs are below average, why is this? Again, look at the audience, the messaging, your audience size and reach – does your bid need to be increased?
Ready to elevate your campaigns? Try these advanced techniques to maximize your ROI and get great results. And to go one step further, check out the complete guide on smarter LinkedIn ad spending here.
